Decision Support Systems Quiz

What is the benefit of using good information appropriately in a company according to the Decision Support Systems?

• It leads to a decrease in company resources.

• It allows for less efficient use of the company resources.

• It gives the company an advantage that allows more efficient use of the company resources to maximize profit and success.

• It has no significant impact on the company's operations.

What can the inappropriate use or failure to use information lead to, as mentioned in the Decision Support Systems?

• Improved decision-making.

• Increased profit and success.

• No change in the company's performance.

• Disaster.

What is the first step in the Market Research Process?

• Develop a research plan

• Collect data

• Define the problem/opportunity

• Analyze the data

How many basic steps are there in the Market Research Process?

• Four

• Five

• Six

• Seven

What is the final step in the Market Research Process?

• Prepare and present findings

• Outline follow up and create an action plan

• Analyze the data

• Collect data

What dictates how a market research project is carried out?

• The size of the company conducting the research

• The research goals

• The number of participants in the study

• The type of products being researched

How many main research goals are identified in the document?

• Two

• Three

• Four

• Five

Which of the following is NOT one of the three main research goals listed?

• Exploratory

• Descriptive

• Analytical

• Causal (cause & effect)

What is the key advantage of using primary data sources?

• Less costly and quicker

• High cost and amount of time required to collect

• Relevance

• Relevance both in terms of content and timeliness

What is a disadvantage of using secondary data sources?

• High cost and amount of time required to collect

• Less costly and quicker

• Relevance

• Relevance both in terms of content and timeliness